By pardoning Changpeng Zhao, Donald Trump is not only signing a legal act, but sending a strong signal to the crypto industry. The founder of Binance, convicted in 2023 for breaches of anti-money laundering legislation, regains his freedom through a decision that contrasts with the hard line of the Biden administration. In a tense climate around crypto regulation, this gesture repositions Trump as a strategic ally of the sector and could breathe new life into Binance's American ambitions.
In brief
- The US president grants a presidential pardon to Changpeng Zhao, founder of Binance, an unexpected decision that shakes the crypto industry.
- Zhao had pleaded guilty in 2023 to violations of anti-money laundering laws related to Binance's operations in the United States. He had served a four-month prison sentence.
- The pardon comes amid political tensions over crypto regulation in the United States, with Trump calling the attack on Zhao “political persecution” under Biden.
- This pardon could reopen the door to a return of Binance to the American market, despite the restrictions that have weighed on the platform since 2023.
The pardon of CZ: a presidential decision
Donald Trump officially granted a full presidential pardon this Wednesday, October 22 to Changpeng Zhao, the founder of Binance, while BNB has just been listed on Robinhood and Coinbase. The latter was found guilty in 2023 of violations of American anti-money laundering laws, as part of the platform's international activities.
He then pleaded guilty, assuming responsibility for the failing management of Binance's financial controls, which earned him a four-month prison sentence, served in full until his release in September 2024.
Indeed, this grace follows a desire by Trump to denounce what he perceives as a political war against crypto players, led by the Biden administration.
Several key elements emerge from this decision:
- The pardon was signed on Wednesday ending Zhao's criminal conviction;
- Trump spokesperson Karoline Leavitt confirmed that the president had exercised his constitutional authority, saying the Biden administration's war on crypto is over;
- Binance, banned from the American market since 2023, could theoretically consider resuming its activities on American soil, although no official announcement has been made by the company.
A political grace with strategic implications
The founder of Binance is said to have discreetly hired lobbyist Ches McDowell at the beginning of the year, with the explicit objective of obtaining a measure of clemency from Donald Trump.
This approach would have been carried out in a context of gradual rapprochement between Zhao and influential figures in the Trumpian sphere, some involved in crypto projects supported by the president's family.
Unlike the first part of the case, focused on judicial and regulatory elements, this dimension reveals the growing anchoring of crypto in government strategies.
The presidential pardon granted to CZ cannot be seen solely as a judicial measure. It carries a clear message to the pro-crypto electorate, which Donald Trump seems to want to seduce in direct opposition to the hard line defended by Joe Biden. Trump's spokeswoman called the decision a symbol of rupture.
This presidential pardon granted to Changpeng Zhao illustrates a clear change in posture of the American executive towards cryptos. It could mark the start of a strategic repositioning of the exchange in the United States, despite technical failures.
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